Concept: February 21, 2025. What is to SWAP a cryptocurrency?

To SWAP a cryptocurrency refers to the process of exchanging one cryptocurrency for another, typically through a decentralized exchange (DEX) or a swap platform. Instead of buying or selling cryptocurrencies for fiat currency (like like dollars, pounds or rubles), users directly trade one cryptocurrency for another. This avoids the use of fiat money for the purchase of new cryptocurrency. Cryptocurrency swaps usually involve minimal fees and are executed quickly, depending on the platform and blockchain network used.

Swapping a cryptocurrency typically happens within a blockchain/network.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.